Bank Of Montreal (NYSE:BMO) Sets New 52-Week High - What's Next?

Key Points

• Bank of Montreal's share price reached a new 52-week high of $130.05, with an average rating of "Moderate Buy" and a price target of $168.00 from analysts.
• The bank recently reported $2.33 EPS for the quarter, exceeding expectations, while its revenue showed a 9.7% year-over-year increase.
• A dividend increase was announced, raising the quarterly payout from $1.18 to $1.63 per share, resulting in an annualized dividend of $6.52 and a yield of 5.0%.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO's stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $130.05 and last traded at $129.90, with a volume of 802766 shares traded. The stock had previously closed at $127.79.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BMO. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research report on Friday, August 15th. Barclays cut shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Cibc World Mkts upgraded shares of Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. UBS Group restated a "neutral" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Finally, Royal Bank Of Canada boosted their price objective on shares of Bank Of Montreal from $161.00 to $168.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank Of Montreal has an average rating of "Moderate Buy" and a consensus target price of $168.00.

Bank Of Montreal Trading Up 0.7%

The firm's 50 day moving average price is $117.73 and its 200-day moving average price is $106.82. The stock has a market cap of $93.14 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.64 earnings per share. As a group, equities research analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 5.0%. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. Bank Of Montreal's payout ratio is currently 58.63%.

Institutional Trading of Bank Of Montreal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ascent Group LLC increased its stake in shares of Bank Of Montreal by 3.5% in the second quarter. Ascent Group LLC now owns 2,756 shares of the bank's stock worth $305,000 after purchasing an additional 92 shares in the last quarter. North Star Asset Management Inc. increased its stake in shares of Bank Of Montreal by 1.2% in the fourth quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank's stock worth $817,000 after purchasing an additional 100 shares in the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Bank Of Montreal by 40.0% in the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank's stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its stake in shares of Bank Of Montreal by 4.5% in the second quarter. Focus Partners Advisor Solutions LLC now owns 2,616 shares of the bank's stock worth $289,000 after purchasing an additional 112 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in shares of Bank Of Montreal by 3.7% in the second quarter. J.W. Cole Advisors Inc. now owns 3,283 shares of the bank's stock worth $363,000 after purchasing an additional 117 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

About Bank Of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.